Insider Selling: Alerian MLP ETN (NYSEARCA:AMJB) COO Sells 8,571 Shares of Stock

Alerian MLP ETN (NYSEARCA:AMJB) COO Jennifer Piepszak sold 8,571 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total value of $2,680,923.09. Following the sale, the chief operating officer owned 71,027 shares in the company, valued at approximately $22,216,535.33. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Alerian MLP ETN Price Performance

Shares of NYSEARCA:AMJB traded up $0.31 during trading on Friday, hitting $31.79. The company had a trading volume of 17,139 shares, compared to its average volume of 45,085. The company has a fifty day simple moving average of $30.32 and a two-hundred day simple moving average of $30.09. Alerian MLP ETN has a one year low of $26.65 and a one year high of $33.40.

Alerian MLP ETN Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, December 1st were given a $0.5006 dividend. This is a boost from Alerian MLP ETN’s previous dividend of $0.49. The ex-dividend date was Monday, December 1st.

Hedge Funds Weigh In On Alerian MLP ETN

Hedge funds have recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC raised its position in Alerian MLP ETN by 23.1% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 5,960 shares of the company’s stock worth $180,000 after purchasing an additional 1,120 shares during the period. IFP Advisors Inc boosted its position in shares of Alerian MLP ETN by 44.1% during the second quarter. IFP Advisors Inc now owns 34,363 shares of the company’s stock valued at $1,040,000 after buying an additional 10,510 shares during the period. Wellspring Financial Advisors LLC bought a new position in shares of Alerian MLP ETN during the second quarter valued at approximately $1,141,000. Lake Street Private Wealth LLC grew its stake in shares of Alerian MLP ETN by 31.6% during the third quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock valued at $3,943,000 after buying an additional 32,075 shares during the last quarter. Finally, Nicolet Bankshares Inc. raised its holdings in shares of Alerian MLP ETN by 1.0% in the third quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock worth $5,756,000 after buying an additional 1,994 shares during the period.

About Alerian MLP ETN

The ALERIAN MLP INDEX ETNS DUE JANUARY 28, 2044 (AMJB) is an exchange-traded fund that is based on the Alerian MLP index. The fund tracks a market cap-weighted index of 50 North American energy MLPs. Securities are selected based on distributions. AMJB was launched on Apr 2, 2009 and is issued by JPMorgan Chase.